Agreements now cover more than 50 per cent of population along EJ&E in Illinois and Indiana
CHICAGO, May 4, 2009 — CN (TSX: CNR)(NYSE: CNI) announced today a voluntary mitigation agreement with the City of Elgin, Ill., addressing the municipality’s issues with CN’s acquisition of the principal lines of the former Elgin, Joliet and Eastern Railway Company (EJ&E). CN completed the acquisition on Jan. 31, 2009, and is running trains over the line.
Under the agreement with Elgin, CN will provide funding for noise mitigation, emergency response training, and measures to maintain existing quiet zones.
CN now has voluntary mitigation agreements with 16 municipalities that are home to more than 50 per cent of the population along the EJ&E in Illinois and Indiana.
CN expects that full integration of the CN and EJ&E networks will be accomplished within three 2022s. As CN completes the integration and planned infrastructure improvements, it is committed to communicate changes in a timely manner to all 33 communities affected by the acquisition.
More information on the acquisition, including a map of the areas served by the EJ&E and CN, is available on CN’s website, www.cn.ca.
This news release contains forward-looking statements. CN cautions that, by their nature, forward-looking statements involve risk, uncertainties and assumptions. Implicit in these statements, particularly in respect of long-term growth opportunities, is the Company’s assumption that such growth opportunities are less affected by the current situation in the North American and global economies. The Company cautions that its assumptions may not materialize and that the current economic conditions render such assumptions, reasonable at the time they were made, subject to greater uncertainty. The Company cautions that its results could differ materially from those expressed or implied in such forward-looking statements. Important factors that could cause such differences include, but are not limited to, the effects of adverse general economic and business conditions, including the current deep recession in the North American economy and the possibility of a global economic contraction in 2009, industry competition, inflation, currency fluctuations, changes in fuel prices, legislative and/or regulatory developments, compliance with environmental laws and regulations, various events which could disrupt operations, including natural events such as severe weather, droughts, floods and earthquakes, labour disruptions, environmental claims, investigations or proceedings, other types of claims and litigation, and other risks detailed from time to time in reports filed by CN with securities regulators in Canada and the United States. Reference should be made to “Management’s Discussion and Analysis” in CN’s annual and interim reports, Annual Information Form and Form 40-F filed with Canadian and U.S. securities regulators, available on CN’s website, for a summary of major risks.
CN – Canadian National Railway Company and its operating railway subsidiaries – spans Canada and mid-America, from the Atlantic and Pacific oceans to the Gulf of Mexico, serving the ports of Vancouver, Prince Rupert, B.C., Montreal, Halifax, New Orleans, and Mobile, Ala., and the key metropolitan areas of Toronto, Buffalo, Chicago, Detroit, Duluth, Minn./Superior, Wis., Green Bay, Wis., Minneapolis/St. Paul, Memphis, and Jackson, Miss., with connections to all points in North America. For more information on CN, visit the company’s website at www.cn.ca.